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Why Japan's Markets Went Up Despite a Political Shake-Up

ASIA-PACIFICTuesday, October 29, 2024
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On Tuesday, markets in the Asia-Pacific region mostly rose, following the lead from Wall Street. Japan's Nikkei 225, for instance, inched up by 0. 77% and closed at 38, 903. 68, building on the previous day's gains. This happened even though Japan's ruling party, the Liberal Democratic Party, lost its parliamentary majority in a recent election for the first time since 2009. The jobless rate in Japan dipped slightly in September, coming in at 2. 4%, which was a bit lower than expected. This is noteworthy because it shows that the job market might be improving, which can boost investor confidence. South Korea's Kospi also had a good day, climbing 0. 21% to reach 2, 617. 8. The smaller Kosdaq index rose by 0. 5% to 744. 18. Australian markets, too, had a positive day, with the S&P/ASX 200 increasing by 0. 34% to close at 8, 249. 2. In Hong Kong, the Hang Seng Index was up 0. 35% as the trading day neared its end. However, China's CSI 300 went the other way, losing 1% and closing at 3, 924. 65.
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